Sure, we always want more money, but it doesn’t mean that we can always get it.

I had some buyers looking in Jacaranda Lakes, a nice community in Plantation. We saw a beautiful waterfront 5 bedroom home, listed at $499,000.

The house had a lot of nice updates, but was decorated from the 80s, which made it look a little less modern. It was waterfront, and had no pool.

Jacaranda Lakes is known for mostly having pool homes. My buyers did not need a pool, but were aware it lowered the value.

We looked at the recent comparable home sales in the past 6 month.

The only 5 bedroom that sold, had a pool, but no waterfront. It sold for $410k two weeks prior to our offer.

4 bedroom homes with pools, but no waterfront, sold for $375k-$440k.

4 bedroom homes with pools and waterfront, sold for $440-$460k.

We discussed it, and factored in that the 5 bedroom increased the value, but the lack of pool also decreased the value. We also took into account that the market was increasing.

We offered $465k (higher than any recent comparable sale), and the listing agent said the seller’s almost countered at $495k, but they were just going to stick with $499k. Since they had a 5 bedroom, they felt it was worth $499k.

There was no data to support any appraisal coming in close to that price.

I asked her about the appraisal concern, and she explained that they think it is worth $499k.

Well if they think that it is worth that, what do they need her for?!!!

Look, I have some sellers who will wait for their price. They are in no rush. But you bet in my listing, it says “Not contingent on appraisal.”

It is one thing to say that a seller wants his price and doesn’t care about the appraisal. It is another, to say that the seller thinks it is worth that, and that is your pricing reasoning.

Our job as REALTORS® is to educate our customers to make the best, and most informed, decisions. We provide market data and analysis to help a buyer or seller come up with a reasonable market value.

The REALTOR® said that the seller put $500 door handles on, and they did an extensive amount of upgrades. And don’t get me wrong, those are great! But a house is only worth what it is worth, as compared to other similar homes.

And FYI, $500 door handles, does not justify a $50,000 price value increase.